Paydownhero
Boston
About Paydownhero
More Americans carry auto debt, and they owe more on their loans than ever before. As of 2018, Americans collectively owed 1.25 trillion dollars. An increase of 75% since the end of 2009. With soaring inflation on everyday items, record-high gas prices, and the exploding cost of owning a car, it's clear that the country has an unsustainable debt problem in desperate need of a solution. Introducing Paydownhero. A convenient and easy-to-setup roundup app that securely connects your bank account to your car loan and then uses the spare change (roundups) from your daily transactions to make additional payments on your outstanding loan. The goal: To help car owners (not leasers, unfortunately) get out of auto-debit faster, cover their rising interest rates on their loans and put more money back in their own pocket.
Company Facts
- Operating status: Active
- Company type: For Profit
- IPO status: Private
- Employees: 1 – 10
- Estimated revenue: Less than $1M
- Total funding: $661.3K
- Funding stage: Seed
- Last round: Seed (Jun 2021)
- Website: paydownhero.com
- Phone: [email protected]
Industries & Categories
Apps, Finance, Financial Services, FinTech
Social Profiles
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